The New York Yankees and Cody Bellinger agreed to a five-year contract worth $162.5 million on Wednesday. The move excited Yankees fans, as previous rumors hinted that Bellinger could end up elsewhere. Overall, the agreed upon deal features a number of details, per Jeff Passan of ESPN.
“Cody Bellinger's deal with the Yankees is for five years and $162.5 million, sources tell ESPN. There are opt-outs after the second and third season, a $20M signing bonus and a full no-trade clause,” Passan wrote on X, formerly Twitter.
So, how did Bellinger and the Yankees fare with this contract?
Cody Bellinger returns to Yankees
Rumors initially suggested that Bellinger was seeking a seven-year deal. While he did not receive that many years, it's difficult to complain about what the outfielder did get in the contract.
In addition to $162.5 million, Bellinger can opt out after the second or third season. If the slugger enjoys a big year in 2027 or 2028 and feels like he can get a better deal on the open market, Bellinger has the freedom to test free agency once again.
Of course, the $20 million signing bonus does not hurt. The same can be said for the full no-trade clause. One has to imagine the no-trade element of this contract played a significant role in Bellinger being willing to accept a shorter deal. The Yankees won't be able to move him to any team without his approval, which is something players value.
Bringing back Bellinger was probably a no-brainer after Kyle Tucker and Bo Bichette both signed elsewhere. The Yankees needed another star bat in the lineup alongside Aaron Judge.
Jazz Chisholm Jr. is an All-Star caliber player and Giancarlo Stanton still offers right-handed power, but without Bellinger, this lineup would feel incomplete. Now the Yankees can focus on potentially upgrading the pitching rotation with Bellinger back on the roster.
Re-signing Bellinger also makes the idea of trading Jasson Dominguez or Spencer Jones — two of New York's highly-regarded outfield prospects — more realistic. Jones or Dominguez could highlight a possible trade package for a star pitcher.
From a performance standpoint, Bellinger slashed .272/.334/.480 in his first season with New York in 2025. He also hit 29 home runs — which was his highest mark since he crushed 47 in his 2019 MVP season with the Los Angeles Dodgers.
Playing in a big market clearly isn't an issue for Bellinger. He's found success in LA, Chicago and New York. Between his all-around hitting prowess and respectable defensive ability in the outfield, Bellinger projects to find continued success with the Yankees.
Grading the contract
We will grade the contract for both the Yankees and Cody Bellinger.
Although Bellinger had to settle for five years, the no-trade clause and opt-outs give him plenty of control and flexibility. Additionally, it isn't as if he had to settle for two or three years. Five years is still respectable. If Bellinger does not opt out, he could play in New York until his mid-30s.
Meanwhile, the Yankees bring back a necessary piece to their lineup. Sure, New York's lineup is not perfect, but this move makes it feel much more complete. Adding another reliable outfielder should prove to be crucial.
Both the Yankees and Bellinger likely got what they wanted out of this contract for the most part. New York did not have to give him seven or more years, while Bellinger received a no-trade clause and multiple contract opt-outs.
Yankees' grade for the contract: A-
Cody Bellinger's grade for the contract: A-
